Implications of missed credit card payments

cagey76

missbargain wrote: »

Also, I am a bit confused about DD payments. Since the above happenned, I set up DD on all my CCards.
Can someone please tell me, can I still make payments myself beside the automatic DD payment? As my DD payment is the minimum amount, I usually like to pay much more than that, can I still do it? And when is the best time to do it, soon after DD has been taken or later? I am a bit confused about this, as in the past I used to pay all of it myself, never by DD.
Thank you.

If I'm right you can probably choose whether you want the direct debit to be the full amount of just the minimum amount. If you do the latter it should easy to set up a single payment method with your online account to use as and when you want.

YorkshireBoy

nomoneytoday wrote: »

AFAIK it's late once the next statement is produced.. Late is the few days in between payment date and statement date.

I assume that's a typo and you meant to say "missed"?

In general, only "missed" payments are reported, ie if you paid late but before the next statement was produced you might be OK. However, some providers will still report payments not made by payment due date.

xgingerx

Hi normally, from my experiance a late payment is only recorded when it is more than 30 late and therefore it is not just late but now a missed payment as your next bill with also be due by this time, late payments ie within a few weeks of the payment date do not show on your credit file, but the credit card company may charge you a late fee and if you have a 0% deal, they may take you off this and start charging interest, this is what happened to me with Virgin MBNA.

sarahs999

Back to your original question though, if you've got paperless banking they should send you an email when it's time to pay. Otherwise everyone would miss all the time. Checked your junk mail? Maybe it got filtered.

missbargain

Thank you very much to everyone who replied!

I am much clearer now with this DD thingy. I always used to pay my CC bills manually (either online or in branch). But since receiving the late fee, I thought I better set up DD (actually, it was due to the good advice on this Forum, I did not think about it myself), but I was not very clear about some things. Now, thanks to your replies, I am.

So, missed payment is if the next statement has already been issued. Late payment if it was paid before the statement has been issued. And I can pay as much as I can, whenever I can in addition to the automatic DD, that's good to know, too.
Yorkshireboy - thank you very much for indepth explanation about additional payments, I better check with Halifax whether, when and how they take it into account.
I had CCs for years, but, only after discovering this Forum, I realised how little I knew about all the "small print". I did not even know that I could set up DD for paying the Credit Card bill, noone ever told me, except this Forum (I think YorkshireBoy again).
So thank you very much!

Merlinexcalibur

This may also come in useful as I see you were charged 'fees' for missing/late payments. For anyone else, though, you can claim these charges back by using the same process for claiming bank charges. It's not as widely known, though, and I only know because of another consumer forum which is well known on the net along with MSE. That's in case it's useful, because it may be to others who read.